401(k) Plan

Century Engineering maintains an optional Section 401 (k) Retirement Plan. Under this plan, all employees who have completed three months of continuous employment may request to have pre-tax deductions taken from their pay to fund their own retirement account. Century offers an employer contribution based on the company’s performance, and as determined by the 401 (k) discrimination test (not to exceed federal limitations).

Pending company performance, Century matches all eligible contributions by the employee on a dollar for dollar basis up to the first $1000, or the amount set by the Executive Committee based on the prior year’s performance. This amount has varied based on company performance in the past. Historically, our employee match has been:

Year	Company Match
2010	$1000
2009	$1000
2008	$1250
2007	$1250
2006	$1250
2005	$1250
2004	$1100

Century’s philosophy is to encourage employees to participate in the 401 (k) Retirement Plan and the executive management team has remained steadfast in offering a match even in compromising years.